India: Raipur based re-rollers increase rebar offers by INR 500/t ($7)

Mid-scale rolling mills in Raipur, Chhattisgarh have increased rebar offers by around INR 500/t on a d-o-d basis. Current offer for 10-25mm rebar stands at INR 39,300/t. Prices have increased owing to strengthening raw material prices and to improve conversion spread from billet to rebar which is currently hovering around INR 3,000-3,100/t, trade sources reported to SteelMint. The offers for rebar may vary by INR 100-200/t as per brands.